The company expects uses of the additional spending will include new manufacturing lines, cooling and distribution equipment and production, as well as community-focused initiatives.

“In Africa, we believe we can do more to source agricultural ingredients locally, with significant supply potential that’s underdeveloped and underutilized,” said Coca-Cola Chairman and Chief Executive Muhtar Kent.

“Tapping this potential could accelerate the growth of our business and Africa’s emerging economies, making our supply chains more cost effective and enabling sub-Saharan Africa to supply more ingredients to growing markets in Africa and beyond.”

Coca-Cola recently reported that its soda volumes returned to growth in the second quarter, yet profit and revenue slipped on weaker foreign currencies and higher marketing costs. The rebound was fueled by Asia and Africa, including a 9% rise in volumes in China. Despite Coke increasing its marketing investments by $400 million this year, beverage volumes were flat in North America, Europe and Latin America, worse than Wall Street analysts expected.